FIG Has Now Completed 95 M&A Transactions Totaling More Than
$4.2 Billion In Transaction Value To Date
ATLANTA, December 13, 2017 — South Atlantic Bancshares, Inc. (OTCQX: SABK) has announced a definitive merger agreement to acquire Atlantic Bancshares, Inc., (OTCPink: ATBA).
The transaction is valued at $18.1 million based on the closing price of South Atlantic on Friday, December 8th. The deal is expected to close by April 30, 2018.
“The addition of Atlantic Community Bank’s offices in Bluffton and Hilton Head is a natural extension of South Atlantic Bank’s geographic footprint, which will span 330 miles of the South Carolina coast after the merger is completed,” said South Atlantic Chairman and Chief Executive Officer K. Wayne Wicker. “The two companies fit well together, as Atlantic Bancshares shares our community banking philosophy that values strong credit quality, sound banking practices, and exemplary customer service. We look forward to serving the communities of Bluffton and Hilton Head Island.”
More information is available here.
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